Cheng Yutung Net Worth is$16 Billion
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Date of Birth: 1925
Net Worth: View Cheng Yu-tung Net Worth
What is Cheng Yu-tung's net worth? Cheng Yu-tung's $16 billion net worth makes him one of the richest people in Hong Kong. Born in Shunde, Guangdong, Republic of China, Cheng Yu-tung is now based in Hong Kong. Until just recently, he was the CEO of New World Development, a family-owned real estate development firm. He began his professional career with a jewelry business called, Chow Tai Fook. Chow Tai Fook grew to become Chai Tai Fook Enterprises and expanded into multiple business ventures, including serving as the umbrella corporation for New World Development. Chow Tai Fook/New World Development now own multiple properties in Hong Kong, Macau, and abroad, including five high-end hotels. Most recently, the company purchased the Carlyle Hotel in Manhattan. The company also runs the Sheraton Marina hotels. In addition to his work with Chow Tai Fook, he also serves as honorary consul for Bhutan, and on the board of Hong Kong's third largest bank, Hang Seng. He announced his retirement in early 2012, and passed leadership to his son.

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Cheng Yutung Latest News

Cheng Yu-Tung, Hong Kong Jeweler Turned Billionaire, Dies

Cheng Yu-tung, a gold-shop apprentice who married his boss’s daughter and helped develop the world’s largest jewelry retailer, has died. He was 91. Cheng died peacefully with his family at his side Thursday night, his family said in an e-mailed statement.
Posted: September 29, 2016, 10:19 pm

Cheng Yu-tung, Hong Kong Jewelry, Real Estate Tycoon, Dies

Hong Kong tycoon Cheng Yu-tung, the patriarch behind the Chow Tai Fook jewelry chain and a global real estate empire that includes New York’s Carlyle Hotel, died Thursday. He was 91 years old. Mr. Cheng “died peacefully” with family by his side ...
Posted: September 30, 2016, 5:52 am

Big money brings name changes

Hui Ka-yan's China Evergrande bought the Grade A office building for a record high price of HK$12.5 billion from Joseph Lau Luen-hung's Chinese Estates last November.Hui and Lau used to be in the poker circle of New World Development founder Cheng Yu-tung ...
Posted: November 30, 2016, 12:23 pm
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